Cue a plethora of startups popping up where the main business model involves harvesting the transaction data via such cards. Probably most interesting for shopping sites since it gives you insight into all the transactions made with competitors (only just realized that that's probably why Amazon issues credit cards).
Stripe Issuing – An API for creating physical and virtual cards
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Re: Stripe Issuing – An API for creating physical and virtual cards
#22Very off topic (sorry): does anyone have Steam VR launching when opening the linked story in latest stable Firefox on Windows 10?!
It's annoying because it pops out multiples modals on my desktop (and complaning my HMD is not connected) and my mouse cursor starts to shutter....
Latest Steam Stable with Steam VR beta module on Windows 10 x64 Pro 1803
Edit: formatting
Edit: found a way to disable: dom.vr.openvr.enabled in about:config (why does it trigger openvr?)
Re: Stripe Issuing – An API for creating physical and virtual cards
#23Earlier quoted context omitted.
Will this be launched worldwide? If not, which countries in the first phase?
We're starting out in the U.S., but have a number of other markets in-flight. Please let us know about your use case on the invite form ( https://stripe.com/issuing ) — that'll help us prioritize where to go next :)
I have reached out, just now, please begin the discussions with us asap because we are in the middle of going with Emburse and would consider this instead.
Re: Stripe Issuing – An API for creating physical and virtual cards
#24Cue a plethora of startups popping up where the main business model involves harvesting the transaction data via such cards. Probably most interesting for shopping sites since it gives you insight into all the transactions made with competitors (only just realized that that's probably why Amazon issues credit cards).
Also why uber did their own credit card, gotta imagine. Using that data for where people are going and where they are ordering from (UberEats) has got to be extremely valuable.
Re: Stripe Issuing – An API for creating physical and virtual cards
#25That’s awesome. I wonder how easy would it be to code an easy service that generates a different card for every subscriptions. No more hassle to cancel this gym membership!
Be careful of the "cancel this gym membership" approach. Gyms in particular have a reputation for sending you to collections if you try to end your contract that way, as the contracts generally specify a specific way you have to end the plan.
No merchant agreement prohibits the merchant from pursuing the purchaser through collections or small claims court if a chargeback occurs or the charge is declined (in the case of a recurring subscription).
Re: Stripe Issuing – An API for creating physical and virtual cards
#26Love it, unfortunately it is currently by invitation only though. Anyone have any information about what the qualifying criteria is?
Glad to hear you like it! We’re looking for a range of customers who have various use cases and experience levels with issuing before we’re ready to make this available more broadly. (Sorry I don’t have much more in the way of specifics to share here, we’ll do our best to get back to you quickly.)
Re: Stripe Issuing – An API for creating physical and virtual cards
#27That’s awesome. I wonder how easy would it be to code an easy service that generates a different card for every subscriptions. No more hassle to cancel this gym membership!
Check out Revolut: https://www.revolut.com/?lang=en
They have virtual cards as well as a disposable one that changes number every time you use it online.
Re: Stripe Issuing – An API for creating physical and virtual cards
#28So the question then begs. Is this the beginnings of a digital bank?
Will they start to do things like:
- Virtual Accounts / Ledger support.
- Micro Loans.
There doesn't seem to be a digital bank that does end to end payments in the US, that businesses can plug into with an API and have everything taken care of.
There is Railsbank[0], yet they are located in the UK and US support may be in Q4 this year. But they aren't an acquirer.
This is a very interesting development for sure!
[0]: https://www.railsbank.com/
p.s if anyone does know of an end to end fintech service provider for the US. Let me know. All of the ones that I have found, unfortunately are EU only.
Re: Stripe Issuing – An API for creating physical and virtual cards
#29How is the balance of the card established? Is it just paid from a connected bank account similar to a chargeback after a payout has been already paid into a bank account?
(I work on Issuing.) The cards draw from a Stripe balance, which can be funded from a connected bank account (or ordinary Stripe charges).
If I use my normal VISA card at a retailer they pay an interchange fee right?
If I create a physical card through stripe, and I use that card at a retailer does the retailer still pay a interchange fee? If so who does that go to? How does that system work?
Re: Stripe Issuing – An API for creating physical and virtual cards
#30That’s awesome. I wonder how easy would it be to code an easy service that generates a different card for every subscriptions. No more hassle to cancel this gym membership!
I think there's an additional security aspect to this. A big company has their credit card processing system breached? Cancel the card for that vendor, and you don't have to worry about updating all your bills/autodebit.